MS Pharma ink deal for acquisition of Genepharm

Jordanian firm MS Pharma has entered into an agreement to acquire 100% of the outstanding shares of Greek company Genepharm. The deal is expected to close by the end of April.

Genepharm, a company which develops, manufactures and out-licenses high value, generics, has a strong portfolio alongside an extensive network of 223 customers across 70 countires around the world.

The acquisition expands MS Pharma’s geographic footprint, which at the moment is mainly focused in the Turkey, the Middle East and Africa.

The deal will also see MS Pharma expand its chronic disease portfolio as it gains important products in the area of cardiovascular, CNS and oncology.

Ghiath Sukhtian, chairman of MS Pharma, said: "This acquisition is highly complementary and synergistic to our business, and marks an important milestone in our growth plans."

"Genepharm's management team has built a successful business, and we look forward to supporting them in growing the business. We believe this acquisition will enable the company to offer a wider range of products and technologies to its customers in Europe and around the world,"

Genepham said in a statement: "We are excited to be entering into a new phase of growth with MS Pharma. This acquisition will help accelerate our growth plans and will enable the company to offer a wider range of products to its partners and customers."

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